Major International Business Headlines Brief::: 05 November 2024

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Major International Business Headlines Brief:::  05 November 2024 

 


 


 


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ü  Boeing strike ends as workers back 38% pay rise deal

ü  Living with Nigeria's blackouts - six weeks, no power

ü  Kenya Tops Global Rankings for Social Media Use

ü  Uganda: Cabinet Gives Thumbs Up to National Coffee Bill Without 3-Year
Transition

ü  South Africa: Diesel, Petrol Price to Increase in November

ü  Tanzania: South African Billionaire Motsepe Faces $195m Lawsuit in
Tanzania

ü  Southern Africa: Drought-Hit Zambia Boosts Power Imports to Combat
Blackouts

ü  Uganda: National Mining Company Board Inaugurated to Oversee Uganda's
Mineral Sector

ü  Ghana: Govt of Ghana Rolls Out 5G Broadband Services

ü  Egypt's Viridia Tech Wins Mega Green Accelerator With Ai Solution

ü  Ghana: Mukesh Ambani-Backed Firm to Launch First 5g Network in Ghana

ü  Cote d'Ivoire: Côte d'Ivoire's CIEC Sees 11 Percent Profit Rise Amid
Domestic Demand Growth

ü  Gambia: The Future of the Senegambia Bridge

 

 


 <mailto:info at bulls.co.zw> 

 


Boeing strike ends as workers back 38% pay rise deal

Boeing workers have voted to accept the aviation giant's latest pay offer,
ending a damaging seven-week-long walkout.

 

Under the new contract, they will get a 38% pay rise over the next four
years.

 

Striking workers can start returning to their jobs as early as Wednesday, or
as late as 12 November, the International Association of Machinists and
Aerospace Workers (IAM) union says.

 

The walkout by around 30,000 Boeing workers started on 13 September, leading
to a dramatic slowdown at the plane maker's factories and deepening a crisis
at the company.

 

 

IAM said 59% of striking workers voted in favour of the new deal, which also
includes a one-off $12,000 (£9,300) bonus, as well as changes to workers'
retirement plans.

 

"Through this victory and the strike that made it possible, IAM members have
taken a stand for respect and fair wages in the workplace," union leader Jon
Holden said.

 

The union had previously called for a 40% pay increase and workers had
rejected two previous offers from the company.

 

"While the past few months have been difficult for all of us, we are all
part of the same team," said Boeing's chief executive Kelly Ortberg.

 

"There is much work ahead to return to the excellence that made Boeing an
iconic company."

 

In a sign of how seriously the White House took the strike at one of the
country's most important companies, acting US Labor Secretary Julie Su flew
to Seattle last month to help with negotiations.

 

Boeing has been trying to shore up its finances and end the strike, which
has now cost it nearly $10bn, according to consulting firm Anderson Economic
Group.

 

In October, its commercial aircraft business reported operating losses of
$4bn for the three months to the end of September.

 

Last week, the firm launched a share sale to raise more than $20bn.

 

It came after warnings that a prolonged strike could lead to downgrades of
Boeing's credit rating, which would make it more expensive for it to borrow
money.

 

Last month, the firm said it would lay off around 17,000 workers, with the
first redundancy notices expected to be issued in mid-November.

 

The latest crisis at Boeing erupted in January with a dramatic mid-air
blowout of a piece of one of its passenger planes.

 

Its space business also suffered a reputational hit after its Starliner
vessel was forced to return to Earth without carrying astronauts.-BBC

 

 

 

 

Living with Nigeria's blackouts - six weeks, no power

The reception is poorly lit and a small fan barely moves the humid air as
staff at Chidinma Emeneka’s laundry service in Nigeria’s commercial capital,
Lagos, wait for the generator to kick in.

 

It roars into action, but the engine noise marks the start of extra business
costs which have to be paid because of the failing power sector.

 

For 10 days more than a third of the country’s 36 states have been in
darkness following a major fault in the transmission grid.

 

Ms Emeneka is one of millions who have been affected, and is now struggling
to keep her business, Sparkle Inn Laundry Services, afloat.

 

The 27-year-old told the BBC that her firm turned to expensive generators to
keep going after she was left without electricity once before for about six
weeks.

 

On that occasion the cause was a power surge that damaged her meter.

 

“My meter is bad, the platform to apply for a new meter is down, there is no
way to get a new meter and there’s no way to get light.”

 

This time the entire neighbourhood has been in darkness for over a week.

 

"Currently, we have been sustaining with an inverter and a generator but the
fuel price right now is driving me crazy," Ms Emeneka says.

 

Her laundry offers a 72-hour service to return clean clothes, but the power
shortage has left some customers waiting up to a week.

 

She says she has been forced to spend 35,000 naira ($21; £16) a day on fuel
for her generator - and that is on sunny days, when a solar panel system is
in operation. On cloudy days the generator costs can be double that.

 

The BBC contacted the Eko Electricity Distribution Company which provides
electricity to some parts of Lagos to ask about Ms Emeneka's case, but
received no reply.

 

The problems with the country’s grid are endemic and affect huge numbers in
one of Africa’s biggest economies.

 

Officials have confirmed eight instances of nationwide power outages this
year alone.

 

“The truth of the matter is, we have old infrastructure. We have a national
grid that is more than 50 years old. The towers are falling and the
substation transformers are old,” Power Minister Adebayo Adelabu said.

 

“We’ve been trying to revamp this and change them but they cannot all be
changed overnight.”

 

The Transmission Company of Nigeria, which is responsible for delivering
power, said the latest widespread outages were caused by vandalism on a
major transmission line.

 

Officials said they were working hard to restore energy to households and
businesses, with power recently returning to seven of the affected states
after a nine-day blackout.

 

In Lagos, pockets of the city and its suburbs on Friday remained in the
dark.

 

Many who cannot afford the over 500% increase in fuel prices to run their
generators have to rely on their hand fans to combat the heat.

 

Last April, authorities hiked electricity tariffs by over 300% with
consumers who receive more than 20 hours of power supply a day, paying more.
The government said the electricity subsidies it paid were depleting the
country’s resources.

 

Some energy experts have blamed the government for failing to invest in
improving the infrastructure.

 

Analyst Oti Ikomi agreed that vandalism was responsible for some recent
outages but warned the problems would persist without more investment.

 

"Unfortunately, the technical side, the enhancement of all the required
infrastructure has slowed down. It needs commitment," he told the BBC.

 

Nigeria's northern states have been the worst hit by the outages.

 

Businesses like frozen-food vendors lost thousands of dollars discarding
rotten food including frozen fish, chicken and turkey.

 

The advice from experts for small businesses that want to keep going is to
install solar panels and inverters as a backup for grid collapses but the
cost is prohibitive for many.-BBC

 

 

 

Kenya Tops Global Rankings for Social Media Use

NAIROBI — Kenya has emerged as the country where individuals spend the most
time on social media, a new report has revealed.

 

The GWI report compiled by Cable.co.uk revealed that most Kenyans spend an
average of 3 hours and 43 minutes daily.

 

This is against the global average of 2 hours 23 minutes.

 

"The world spends a huge amount of time using social media too, with the
latest research from GWI revealing that the "typical" social media user now
spends 2 hours and 23 minutes per day using social media," read the report
in part.

 

This places Kenyans at the forefront of global social media engagement,
surpassing countries like South Africa and Brazil, which follow closely with
daily averages of 3 hours and 37 minutes and 3 hours and 34 minutes,
respectively.

 

Filipinos, Nigerians, and Colombians are also notable participants in this
digital landscape, spending an average of 3 hours and 33 minutes, 3 hours
and 23 minutes, and 3 hours and 22 minutes per day, respectively.

 

Similarly, the study indicates that 2023 saw the addition of 266 million new
social media users worldwide, equating to a staggering 8.4 new users every
second.

 

The data also reveals that humanity is set to collectively spend an
astounding 500 million years on social media in 2024.

 

In particular, countries along the western edge of the Persian Gulf
demonstrate high ratios of social media users relative to their
populations.-Capital FM.

 

 

 

 

Uganda: Cabinet Gives Thumbs Up to National Coffee Bill Without 3-Year
Transition

In a significant move, the Cabinet has reconsidered and resolved to support
the National Coffee Amendment Bill 2024, paving the way for its passage into
law without the initially proposed 3-year transition period.

 

This bill, introduced by Minister of Agriculture, Animal Industry and
Fisheries Frank Tumwebaze, aims to dissolve the Uganda Coffee Development
Authority (UCDA) and transfer its functions to the Ministry responsible for
agriculture.

 

The policy behind the bill is to give effect to the Government Policy for
Rationalisation of Government Agencies and Public Expenditure (RAPEX),
adopted by the Cabinet in 2021.

 

This change aligns with the government's push to streamline its agencies and
improve efficiency.

 

"The National Coffee Amendment Bill 2024 is a crucial step towards reforming
Uganda's coffee sector," said Minister Tumwebaze.

 

"By dissolving the UCDA and transferring its functions to the Ministry, we
can improve regulation, production, and marketing of coffee, ultimately
benefiting our farmers and the economy."

 

The bill's passage is expected to have a positive impact on Uganda's coffee
industry, including increased coffee production and exports, farmer
empowerment, and increased local processing.

 

With the Cabinet's support, the bill is now one step closer to becoming law,
paving the way for a more efficient and effective coffee sector in Uganda.-
Nile Post.

 

 

 

South Africa: Diesel, Petrol Price to Increase in November

Prices of all grades of fuel as well as that of petrol and gas are expected
to rise this coming Wednesday.

 

This as announced by the Department of Mineral and Petroleum Resources
(DMPR) on Monday.

 

The increases are as follows:

 

· Petrol 93 (ULP & LRP): 25c increase

 

· Petrol 95 (ULP & LRP): 25c increase

 

· Diesel (0.05% sulphur): 21c increase

 

· Diesel (0.005% sulphur): 20c increase

 

· Illuminating Paraffin (wholesale): 21c increase

 

 

· Single Maximum National Retail Price for illuminating paraffin: 28c
increase

 

· Maximum LPGas Retail Price: 36c increase

 

A litre of 95 petrol, which currently costs R21,05 in Gauteng, will now cost
R21,30 a litre as of Wednesday.

 

In the coast, a litre of 95 petrol, which costs R20,26 in October, will now
cost R20,51 a litre in November.

 

The department explained the international and local factors leading to the
price adjustments for November.

 

"The average Brent Crude oil price increased from 72.82 US Dollars (USD) to
USD 75.07 per barrel, during the period under review. The main contributing
factor is the continued conflict in the Middle East and the stand-off
between Iran and Israel.

 

"The average international petroleum product prices increased on average, in
line with the higher oil prices, during the period under review. This led to
higher contributions to the Basic Fuel Prices of petrol by 33.56 cents a
litre and 21.55 cents a litre, diesel by 30.33 cents a litre and 28.58 cents
a litre and illuminating paraffin by 29.79 cents a litre respectively.

 

"The Rand slightly appreciated on average, against the US Dollar (from 17.68
to 17.53 Rand per USD) during the period under review. This led to lower
contributions to the Basic Fuel Prices of all products by over 8.00 cents
per litre," the department said. -

 

SAnews.gov.za

 

 

 

Tanzania: South African Billionaire Motsepe Faces $195m Lawsuit in Tanzania

Tanzanian mining firm Pula Group sues South African billionaire Patrice
Motsepe and his companies for $195 million in Tanzania's commercial court.

Allegations claim that Motsepe's entities breached a non-compete contract by
investing in Australian company Evolution Energy Minerals near Pula's
graphite project.

ARM denies the claims, asserting they considered but declined investment in
Pula's project, maintaining compliance with confidentiality obligations.

South African billionaire Patrice Motsepe and his associated companies,
including African Rainbow Minerals (ARM) and African Rainbow Capital, face a
$195 million lawsuit in Tanzania's commercial court.

 

 

Tanzanian mining firm Pula Group is suing Motsepe's entities, alleging they
breached a non-compete contract by investing in Evolution Energy Minerals,
an Australian company operating near Pula's graphite project. Pula claims
this breach resulted in significant losses, citing a third-party valuation.

 

ARM, however, denies the allegations, stating that it considered but
ultimately declined investment in Pula's project, notifying the company
accordingly. ARM maintains that it complied with confidentiality
obligations, disputing any agreement violation.

 

You can follow Daba's reporting on Africa on WhatsApp. Sign up here

 

Key Takeaways

 

This high-profile case underscores the competitive tensions in Tanzania's
mining sector, where foreign companies often dominate exploration. Pula's
chairman, Charles Stith, a former U.S. ambassador to Tanzania, argues that
the case highlights unfair practices disadvantaging local firms. As the
lawsuit unfolds, it could set a precedent for protecting Tanzanian
companies' rights against larger, foreign-backed competitors. ARM has
disputed Tanzania's jurisdiction and has sometimes missed court appearances,
signaling a potentially lengthy legal battle.-Daba Finance.

 

 

 

 

Southern Africa: Drought-Hit Zambia Boosts Power Imports to Combat Blackouts

Zambia has significantly increased electricity imports from neighboring
nations to mitigate the impact of extended power outages caused by an El
Niño-driven drought. This weather pattern has reduced hydropower production,
Zambia's primary electricity source, leading to widespread blackouts across
the country.

 

 

Zesco Ltd., the state-owned power utility, has been importing electricity
from South Africa's Eskom Holdings, Mozambique's EDM, and the Southern
African Power Pool. In response to rising import costs, Zambia's energy
regulator recently approved emergency tariff hikes to cover the expenses,
with a review set for three months.

 

While Zesco aims to deliver a steady five-hour power supply daily, it warns
that unforeseen factors could disrupt this schedule. So far, only the mining
sector has maintained stable power access, while other consumers have
received an average of three hours per day due to the drought--the worst
Zambia has experienced in over a century.

 

You can follow Daba's reporting on Africa on WhatsApp. Sign up here

 

Key Takeaways

 

Zambia's increased power imports underscore the economic impacts of
climate-driven weather patterns on infrastructure. Hydropower, which
constitutes around 85% of Zambia's electricity generation, has been
critically strained by persistent droughts, highlighting the need for
diversification in Zambia's energy sector. The extended blackouts have
impacted daily life and the non-mining economy, slowing productivity and
raising the cost of doing business.

 

Relying on power imports has brought limited relief but also raised tariffs,
underscoring the financial burden of climate resilience measures.-Daba
Finance.

 

 

 

 

Uganda: National Mining Company Board Inaugurated to Oversee Uganda's
Mineral Sector

The National Mining Company (NMC) officially inaugurated its new Board of
Directors today at Petroleum House in Entebbe.

 

This milestone marks a significant step in advancing Uganda's commercial
mineral interests, with the NMC set to play a central role in enhancing
national participation in the sector.

 

The company aims to foster partnerships with the private sector to boost
revenues while aligning mineral exploitation with the country's broader
development agenda.

 

Established to give the government a stronger commercial presence in the
mining industry, the NMC follows a similar framework to the Uganda National
Oil Company (UNOC), which manages state interests in petroleum.

 

 

The new board is tasked with strengthening the mineral market, improving
regulatory oversight, and ensuring transparency throughout the sector.

 

Chaired by James Mukasa Ssebugenyi, with James Byagaba as vice chair, the
board includes a diverse group of professionals: John Fisher, Agnes Alaba,
Francis Twinamatsiko, Dr. Kevin Aanyu, Dr. Alex Kwatampora Binego, and
Wilfred Kokas.

 

Together, they bring a wealth of expertise and will work towards expanding
Uganda's mineral exports and increasing the country's influence in global
mineral markets.

 

Irene Batebe, Permanent Secretary of the Ministry of Energy and Mineral
Development, welcomed the new board, emphasising their role in strengthening
the sector's accountability and regulatory framework.

 

 

"This board will ensure that our mineral wealth plays a more substantial
role in driving Uganda's economic growth," Batebe said.

 

She also highlighted the government's focus on value addition and announced
a new policy banning the export of raw minerals to encourage local
processing.

 

Minister of State for Minerals, Phiona Nyamutoro, stressed the importance of
keeping more of the value chain within Uganda, which would create jobs and
increase local economic benefits.

 

"The government is determined to add value to our minerals, and this board's
work is crucial to achieving that goal," Nyamutoro stated. She also pointed
to the benefits of modern mining practices in both economic and
environmental terms.

 

However, challenges persist in Uganda's mining sector, particularly with
underfunding. The Mineral Development Programme received Shs 57.33 billion
for the 2023/24 financial year, yet by December 2023, only Shs 13.8 billion
(24.2%) had been disbursed.

 

Despite this, the programme accomplished several goals, including the review
of 174 mineral license applications and generating Shs 10.34 billion in
non-tax revenue through licensing fees and royalties.

 

Artisanal mining remains prevalent, with limited access to advanced
techniques and safety measures. The NMC board plans to address these issues
by introducing better equipment, training, and technologies to improve both
production and worker safety.

 

During a recent meeting on responsible mineral sourcing, Col. Edith
Nakalema, head of the State House Investors Protection Unit (SHIPU), urged
stakeholders to protect Uganda's mining sector.

 

"Mining holds immense potential for economic growth, industrialisation, job
creation, and foreign exchange earnings," Nakalema stated, calling for
responsible practices and investor protection to drive the sector
forward.-Nile Post.

 

 

 

Ghana: Govt of Ghana Rolls Out 5G Broadband Services

President Nana Addo Dankwa Akufo-Addo has officially launched 5G mobile
broadband services to deepen Ghana's internet connectivity and
Digitalisation efforts.

 

Described as the Fifth Generation of Wireless Technology, 5G broadband
services offer higher internet speed, and higher upload and download speed,
with more consistent connections and improved capacity.

 

5G networks run on the same radio frequencies as their predecessors, 3G, 4G
and 4G LTE networks, which previously served most mobile phones worldwide.

 

Speaking at the official launch, President Akufo-Addo said the move
signifies the beginning of a new era in the country's digital dispensation.

 

 

"As we launch 5G in Ghana today, let us embrace our responsibility to build
a stronger and more inclusive Ghana, our success will not only be measured
by internet speed but by the tangible improvement in the lives of people,
industries and fostering innovation across all regions.

 

"Let this day mark the beginning of a new era in our digital journey, one
that leads Ghana to economic resilience, social inclusivity and global
competitiveness."

 

"Together let us use the power of 5G to propel Ghana into a future of
boundless possibilities creating a legacy of innovation and progress for
generations to come," Akufo-Addo said.

 

The Minister of Communications and Digitalisation, Ursula Owusu-Ekuful said
the initial roll out will cover the country's major cities such as Accra,
Kumasi and Takoradi.

 

 

"5G has now arrived in Ghana, marking a significant step forward in our
digital journey. The initial roll out focus is on major cities starting
today, where we anticipate residents in Accra, Kumasi and Takoradi will
begin experiencing the benefits immediately once the network operators
activate it."

 

"Our goal is to achieve coverage across additional urban areas by the end of
2024, for full nationwide coverage including rural regions, we are looking
at a multi-phased approach aiming for comprehensive access by 2026,"
Owusu-Ekuful said.

 

Partnership

 

The government had earlier announced its partnership with seven (7),
industry players on a new shared infrastructure to deliver affordable 5G
mobile broadband services across Ghana.

 

The seven partners are Ascend Digital, K-NET, Radisys, Nokia, and Tech
Mahindra and two telcos - AT Ghana and Telecel Ghana.

 

The company is the first 5G Mobile Broadband Shared Infrastructure Entity to
build a nationwide 4G/5G network.

 

It will also work with the telcos to launch affordable 4G/5G-enabled FWA
CPEs and smartphones in Ghana within this calendar year.- GhanaToday.

 

 

 

 

Egypt's Viridia Tech Wins Mega Green Accelerator With Ai Solution

Mega Green Accelerator, launched by PepsiCo and partners, supports startups
in food security, clean energy, and circular economy challenges.

Egypt-based Viridia Tech emerged as the winner of the 2024 Mega Green
Accelerator, securing the $100,000 grand prize during an industry Demo Day
in Riyadh.

 

 

Competing alongside seven other startups from the Middle East and North
Africa, Viridia Tech showcased its AI-driven platform designed to improve
crop efficiency and sustainability by providing farmers with real-time
insights and accurate yield forecasting. Saudi Arabia's Mirai Solar won the
second-place prize of $30,000 for its solar-powered shade system.

 

Launched in 2023 by PepsiCo, SABIC, AstroLabs, and other partners, the Mega
Green Accelerator supports startups addressing food security, clean energy,
and circular economy challenges. Over six months, selected participants
received mentorship, training, and networking opportunities aimed at scaling
their ventures and attracting investment.

 

You can follow Daba's reporting on Africa on WhatsApp. Sign up here

 

Key Takeaways

 

The success of the Mega Green Accelerator highlights growing investment in
sustainable innovation across the MENA region. Through collaborative
initiatives like PepsiCo's MENA Innovates, startups gain direct access to
industry leaders, aligning their technologies with regional sustainability
goals. The program's winner, Viridia Tech, exemplifies the role of AI in
agriculture, reflecting a shift towards data-driven solutions for food
security amid climate challenges. The program's impact extends beyond prize
money, fostering a network that accelerates growth for innovators across the
UAE, Saudi Arabia, and broader MENA.-Daba Finance.

 

 

 

 

Ghana: Mukesh Ambani-Backed Firm to Launch First 5g Network in Ghana

Ghana is set to launch its first 5G network through Next-Gen InfraCo.
(NGIC), supported by billionaire Mukesh Ambani's infrastructure, in a move
aimed at reducing data costs and spurring economic growth. NGIC began its 5G
rollout Friday, targeting full national coverage by 2026, according to
Communications Minister Ursula Owusu-Ekuful.

 

 

NGIC aims to replicate the impact of Ambani's Reliance Jio in India, which
transformed mobile data affordability and gained 470 million users by
offering low-cost services. Ghana hopes the project will boost business and
economic zones outside major cities, creating opportunities for
entrepreneurs across the country.

 

NGIC secured a 10-year exclusive 5G license, with other operators, including
MTN Ghana and Telecel Ghana, leasing access. Radisys, a Reliance unit, will
supply infrastructure, joined by partners like Nokia, Tech Mahindra, and
Microsoft.

 

You can follow Daba's reporting on Africa on WhatsApp. Sign up here

 

Key Takeaways

 

Ghana's 5G initiative aligns with its broader economic recovery efforts.
Amid rising debt, the government introduced an 8.2 billion cedi ($503
million) loan program for SMEs, which constitute 70% of the GDP, to
stimulate economic activity. Enhanced digital infrastructure could further
drive growth, expanding beyond urban centers to rural areas where economic
zones are anticipated. The country's economic growth reached 6.9% in Q2, led
by the mining sector, though overall annual growth remains below
pre-pandemic levels. Internet penetration in Ghana, currently at 70%, is
targeted to reach universal access within six years.  Daba Finance.

 

 

 

 

Cote d'Ivoire: Côte d'Ivoire's CIEC Sees 11 Percent Profit Rise Amid
Domestic Demand Growth

Ivorian Electricity Company (CIEC) reports a 10.74% increase in net profit
for H1 2024, reaching 4.50 billion FCFA, driven by temporary tax savings.

CIE achieved an 11.71% increase in domestic sales, adding 420,400 new
subscribers, totaling 4.2 million customers in line with the Electricity for
All Plan (PEPT).

Total sales volume rose by 7% to 6,224 GWh, with a slight decline in revenue
to 113.52 billion FCFA, mainly due to reduced activity in some services.

The Ivorian Electricity Company (CIEC) reported a 10.74% increase in net
profit for the first half of 2024, reaching 4.50 billion FCFA, up from 4.06
billion FCFA in the same period last year. The profit boost was largely
driven by temporary tax savings. Revenue slightly declined by 1% to 113.52
billion FCFA, mainly due to reduced activity in engineering and other
ancillary services.

 

 

Domestically, CIE achieved an 11.71% increase in sales, totaling 5,876 GWh,
while international sales dropped by 37%. Overall, total sales volume rose
7% to 6,224 GWh. However, operating income dropped 8.52% to 7.24 billion
FCFA due to higher work charges, and pre-tax income fell by 7.26%.

 

CIE added 420,400 new subscribers, bringing its customer base to 4.2
million, an 11% increase, in line with its Electricity for All Plan (PEPT)
to expand access to electricity.

 

CIE's financial performance reflects rising domestic demand for electricity
amid a strategy to expand access through the PEPT initiative. While domestic
sales surged, international sales dropped significantly, highlighting a
focus on the local market. Despite increased net profit from tax savings,
revenue was impacted by lower ancillary service income and higher
operational expenses. CIE's customer growth aligns with Côte d'Ivoire's
broader electrification goals, aimed at extending service access to
underserved communities. The PEPT plan supports national energy access
targets, facilitating customer expansion by subsidizing connection costs.

 

Daba Finance.

 

 

 

Gambia: The Future of the Senegambia Bridge

Gambian political operatives, including those in government, should take
note of what is being said on the platforms of the political parties
contesting the upcoming National Assembly elections in Senegal. Some of the
statements should make Gambian political stakeholders very wary of the
future of the Senegambia Bridge. Currently, just like the Bamba Tenda /
Yelli Tenda crossing of the past, the Senegambia Bridge is a major source of
foreign exchange. Payment in CFA currency by Senegalese users does enable
The Gambia to earn foreign exchange. However, there is an indication that
some political parties in Senegal would prefer to bypass the Senegambia
Bridge and instead build port facilities in Casamance to facilitate the
movement of persons from the Northern part of Senegal to the southern part
by sea rather than by land.

 

If this were to happen, the Senegambia Bridge would experience huge revenue
losses. Gambian planners should therefore take this possibility into
consideration as the Senegalo-Gambian relation calls for redefinition and
consolidation on a new, more realistic, and mutually beneficial foundation.

 

Foroyaa.

 

 

 

 

 

 

 

 


 


 


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Bulls n Bears 

 

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INVESTORS DIARY 2024

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


Companies under Cautionary

 

 

 


 

 

 

 


CBZH

GetBucks

EcoCash

 


Padenga

Econet

RTG

 


Fidelity

TSL

FMHL

 


 

 

 

 


 <mailto:info at bulls.co.zw> 

 


 

 


DISCLAIMER: This report has been prepared by Bulls ‘n Bears, a division of
Faith Capital (Pvt) Ltd for general information purposes only and does not
constitute an offer to sell or the solicitation of an offer to buy or
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been compiled from s believed to be reliable, but no representation or
warranty is made or guarantee given as to its accuracy or completeness. All
opinions expressed and recommendations made are subject to change without
notice. Securities or financial instruments mentioned herein may not be
suitable for all investors. Securities of emerging and mid-size growth
companies typically involve a higher degree of risk and more volatility than
the securities of more established companies. Neither Faith Capital nor any
other member of Bulls ‘n Bears nor any other person, accepts any liability
whatsoever for any loss howsoever arising from any use of this report or its
contents or otherwise arising in connection therewith. Recipients of this
report shall be solely responsible for making their own independent
investigation into the business, financial condition and future prospects of
any companies referred to in this report. Other  Indices quoted herein are
for guideline purposes only and d from third parties.

 


 

 


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